“It was a lovely afternoon—such an afternoon as only September can produce when summer has stolen back for one more day of dream and glamour.” – L.M. Montgomery
It’s hard to believe that we are already halfway through September.
Please scroll down and check out some Fall content and recent updates.
I am always available if you have any questions about the real estate market, so please do not hesitate to contact me by phone, text, or email.
See you soon,
Joujou
“The significant improvement in market dynamics in the Bay Area is a strong riposte to the many recent articles suggesting it has entered a so-called socioeconomic ‘doom loop,’” said Patrick Carlisle, Compass’s chief market analyst for the Bay Area. – Mansion Global, 9/11/2023
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The number of people living in non-metro areas outgrew the urban population for the first time in three decades in 2021, and the rural population expanded again in 2022. However, growth wasn’t evenly distributed, with the top 10 counties with the largest population gains growing by an average of 5% (Census data), more than the national average of 0.4%. These areas are also experiencing a big strain on roads, bridges, schools, etc that were not designed to accommodate these population increases. (Bloomberg)
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A pool cover eliminates 98% of water evaporation, which can amount to as much as 28 gallons a day from an average pool. (EPA)
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New Jersey has the highest percentage of millionaire households of any US state. The 5 states with the highest ratios of millionaire households per capita are New Jersey: 9.76%, Maryland: 9.72%, Connecticut: 9.44%, Massachusetts: 9.38%, and Hawaii: 9.2%. To be in the top 1% of wealth in the US, you need a net worth of over $11 million. (Zippia)
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A lithium deposit discovered in a volcanic crater along the Nevada-Oregon border may hold up to 40 million metric tons of lithium, possibly the largest ever in the world, which could have a massive impact on the electric vehicle industry. Estimated to hold between 20 – 40 million metric tons, this would be nearly double the current record of about 23 million metric tons found over the summer beneath a Bolivian salt flat. (Science Advances)
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As the baby boomers age, it’s becoming more common for people to remain employed into their 70s and 80s, some by necessity and most by choice. (BARRONS)
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Last year, U.S. startups received $245 billion in venture funding, roughly equal to the rest of the world combined. (Crunchbase)
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Eco-friendly design includes Improved Indoor Air Quality using low-VOC or VOC-free materials such as paints, adhesives, and furniture that emit fewer harmful chemicals into the air, leading to better indoor air quality. Poor indoor air quality can cause respiratory issues, allergies, and other health problems.
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Natural and hypoallergenic materials that are less likely to harbor dust, mold, and allergens can significantly benefit people with allergies or respiratory sensitivities.
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Use of non-toxic materials minimizing exposure to harmful chemicals.
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Energy Efficiency for lighting, appliances, and HVAC systems can lead to lower energy consumption and reduced greenhouse gas emissions, contributing to a healthier planet and potentially lower utility costs.
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Connecting with nature profoundly impacts our well-being, and biophilic design aims to bring the outdoors inside. In 2024, expect to see an increased focus on integrating natural elements into interior spaces. Living walls, indoor gardens, and large windows that allow ample natural light.
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In-House ATM
Who wouldn’t want an ATM in their home that spits out cash when needed? In reality, equity in your home often has great value when in need of cash. Many use property all the time to tap into cash for multiple reasons. Here are some of the reasons building equity in your home has value from a tax perspective:
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As a home’s value increases, that value is not being taxed. Upon sale, singles get a $250,000 capital gains exemption on profits, and couples get a $500k exemption, that’s a lot of tax-free wealth creation!
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Homeowners who move out of their home and rent it out for at least a year or more, can 1031 exchange that property in a likewise exchange without paying any capital gains taxes if the replacement property is priced the same or more.
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Wealthier home buyers impacted by limited SALT deduction often close on a property all cash, and then draw out cash via financing for investment purposes. All the interest on that borrowed money is tax deductible, not just the interest on the $750k maximum or the smaller real estate tax deduction.
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In the event you need cash quickly, tapping into your home’s equity via a loan could be much cheaper than liquidating an investment that would require you to pay capital gains taxes on that sale. The interest now may be more expensive, yet still cheaper than the capital gains taxes, especially if the assets you would have had to liquidate were owned for a short period as short-term capital gains taxes are higher. The interest on HELOCs is usually tax deductible too
Sorry to rub it in, but renters have access to none of the above, another reason why we need to encourage and help all to own a home.
How to Give Your Space a Dark Academia Refresh for Fall
Autumn is quickly approaching, and it’s time to hit the books. Even if you’re not studying up, your home could benefit from these notes on bookish design.
Courtesy of Better Homes & Gardens
These 25 Delicious Fall Dessert Recipes Will Solidify Autumn as Your Fave Season
Perfect for a Thanksgiving feast, or when you just need a baking night.
Courtesy of Cosmopolitan
85 Easy Fall Crafts for Adults to DIY With Kids in 2023
From wood and paper pumpkins to acorn trees, wheat centerpieces, and more!
